Danish shipowner Ultrabulk has teamed up with a handful of companies in the UK the feasibility of fitting a modern bulk carrier with sail power in hopes of advancing technology that could help overall CO2 emissions in the shipping industry. For the project, Ultrabulk is teaming with Drax, operator of the UK’s largest power station, along with the Smart Green Shipping … [Read more...]
China Retreats from U.S. Sorghum Probe Amid Global Market Chaos
By Hallie Gu and Tom Polansek BEIJING/CHICAGO, May 18 (Reuters) - China dropped its anti-dumping probe into imports of U.S. sorghum on Friday, beating a hasty retreat from a dispute that wreaked havoc across the global grain market and raised concerns about rising costs and financial damage at home. The move was seen as a goodwill concession as Chinese Vice Premier Liu … [Read more...]
Hyundai Mipo Dockyard Delivers World’s Largest LNG-Fueled Bulk Carrier
Sout Korea's Hyundai Mipo Dockyard has delivered the world's largest LNG-fueled bulk carrier. The 50,000 dwt vessel was ordered in 2016 by Ilshin Logistics in collaboration with steelmaker POSCO. It features a new cryogenic Type 'C' LNG fuel tank made of high-manganese steel developed by POSCO and approved by international classification society Lloyd's … [Read more...]
Ships Bottleneck: China, Australia Ports Clogged as Coal, Iron Ore Demand Soars
By Keith Wallis SINGAPORE, Dec 20 (Reuters) - More than 300 large dry cargo ships are having to wait outside Chinese and Australian ports in a maritime traffic jam that spotlights bottlenecks in China's huge and global commodity supply chain as demand peaks this winter. With some vessels waiting to load coal and iron ore outside Australian ports for over a month, key … [Read more...]
Golden Ocean Reduces Red Ink, Completes Acquisition of 16 Dry Bulk Vessels
Dry bulk shipping company Golden Ocean has completed its acquisition of 16 modern dry bulk vessels as part of ship-for-share transactions announced earlier this year, the company said in its second quarter report released Thursday. Golden Ocean reported a net loss of $12 million in the second quarter of 2017, an improvement compared to the company's $39.2 million loss in … [Read more...]